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What the Papers SayBack

The Financial Times

Osborne seeks to secure legacy with budget surplus law

osbourne

Legislation on balancing UK’s books

Accounts to be in black most years

Osborne will stake his reputation today on achieving budget surpluses for years to come, enshrining his pledge to pay down debt during “normal” years in legislation this autumn.

Companies and Markets

GM chief rebuffs merger courtship by Fiat Chrysler

Barra says group has sufficient scale

Response dashes Marchionne hopes

General Motors’ chief executive has rejected calls for a merger of the world’s third largest carmaker by sales with its crosstown rival Fiat Chrysler Automobiles.

Mary Barra told the annual gathering of GM shareholders in Detroit that the company had received a letter from the management of Fiat Chrysler. The approach suggested that the two companies meet to discuss a potential deal to create a new number one in the industry.

Crude slide sets stage for shakeout

US shale producers expected to emerge as targets in new round of industry deals

Oil rises on lower shale output forecast

Biggest gain in month to date after Riyadh raises output to meet demand

Oil posted its biggest gain in the month to date after a forecast showed US shale oil output would fall next month and Saudi Arabia said it had raised its output in response to stronger demand.

The Daily Telegraph

Car hire firms rescue drivers in DVLA chaos

Car hire firms have told Britons renting a vehicle abroad that they will accept a printed copy of the driver’s license summary, after a DVLA rule change caused chaos.

Problems arose after the paper counterpart of the license, which lists endorsements, was replaced with an online data-base. Customers collecting cars from rental desks now need an access code so hire companies can check the driver’s details.

Business

EU takes smaller share of UK exports

The EU’s importance as a British trade destination lessened in April, as its share of the UK’s goods exports fell to a record low.

 

The Independent

Eurosceptics say Cameron has ‘unfair advantage’

PM’s decision to use Civil Service in EU referendum campaign angers backbenchers

David Cameron was accused by his own MPs last night of trying to load the rules of the European Union referendum to produce a vote in favour of staying in.

Trade deficit narrows in April as exports rise

Britain’s global trade deficit narrowed more than expected in April, as exports rose. The goods trade gap narrowed to £8.6bn from £10.7bn in March- lower than economists’ forecasts of £9.9bn- according to the Office for National Statistics.

 

The Daily Mail

Paying monthly costs you more

Paying for car insurance in monthly instalments costs the average driver £62 a year- adding 11pc to the typical policy

Posted by Lois Hardy on 10/06/2015